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In recent years, the metalworking fluids market has demonstrated robust growth, poised to elevate from $12.21 billion in 2023 to $13 billion in 2024, with a notable Compound Annual Growth Rate (CAGR) of 6.5%. This growth surge is attributed to the expansion of manufacturing, increased activities in cutting and forming operations, corrosion prevention initiatives, regulatory compliance, and a thriving automotive industry. As we transition into the forecast period, the market is anticipated to continue its upward trajectory, reaching $16.86 billion by 2028, driven by a CAGR of 6.7%. This expansion is fueled by factors such as metal recycling, heightened applications in aerospace, the use of metal alloys and composites, the adoption of circular economy practices, and a collective emphasis on resilience and safety. Key trends in this forecast period include a shift towards sustainable formulations, integration of advanced materials, smart manufacturing practices, the electrification of transportation, and the incorporation of biocompatible materials.

Fueling Growth: The Construction Boom

Construction Demand as a Catalyst

The metalworking fluids market is set to experience a significant boost, driven by the escalating demand in the construction sector. Metalworking fluids play a pivotal role in construction activities, particularly in machining and fabricating metal components and structures. A noteworthy example is the projected growth of the Canadian construction industry, set to witness an 8.5% Compound Annual Growth Rate (CAGR) by 2024, propelling the industry’s value to $354.9 billion (USD). Similarly, the UK’s construction output for 2022 reported a substantial increase of 5.6% compared to the previous year, following an unprecedented growth of 12.8% in 2021. The surging demand for construction activities is a driving force behind the metalworking fluids market’s growth.

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Key Players in the Arena

Market Leaders Shaping the Landscape

Major players contributing to the vibrancy of the metalworking fluids market include ExxonMobil Corporation, TotalEnergies SE, Houghton International Inc., Henkel AG & Co. KGaA, Fuchs Petrolub SE, Quaker Chemical Corporation, and others. These industry leaders are instrumental in steering the trajectory of the market, leveraging their expertise and innovations to meet the evolving needs of diverse end-user industries.

Innovations Fueling Market Dynamics

Extreme Pressure Additives: SULFAD 1717E

Innovations in metalworking fluids take center stage with the introduction of extreme pressure additives. Notably, SEQENS, a France-based pharmaceutical solutions and specialty ingredients company, launched SULFAD 1717E in July 2022. This extreme pressure additive, a sulfurized ester, is designed for metalworking applications, including deep hole drilling, grinding, and honing oils. Addressing compatibility with formulas containing esters and providing optimal copper corrosion performance, SULFAD 1717E underscores the commitment to offering cutting-edge solutions for metalworking needs.

Market Expansion Strategies: Acquisition Initiatives

AMSOIL Inc.’s Strategic Move

In a strategic move to bolster its presence in the industrial fluids sector, AMSOIL Inc., a US-based fuel industry commercial company, acquired Benz Oil in May 2023. The acquisition, valued at an undisclosed amount, is expected to enhance AMSOIL’s capabilities and expertise in industrial fluids. By integrating Benz Oil’s specialization in the development, manufacture, and supply of industrial and metalworking fluids, AMSOIL Inc. aims to fortify its position in the market and expand its product portfolio.

Segmentation Insights: Navigating Market Dynamics

Understanding the Market Landscape 

The metalworking fluids market is segmented based on type, application, and end-use industry. Types include mineral, synthetic, and bio-based fluids, while applications span neat cutting oils, water cutting oils, corrosion preventive oils, and other applications. The end-use industries driving the market include construction, electrical and power, automobile, metal fabrication, transportation equipment, and other sectors.

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The Metalworking Fluids Global Market Report 2024  provides an overview of the metalworking fluids market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The metalworking fluids market forecast analyzes metalworking fluids market size, metalworking fluids market share, leading competitor and their market positions.

The Table Of Content For The Metalworking Fluids Market Include:

1. Metalworking Fluids Market Executive Summary
2. Metalworking Fluids Market Segments
3. Metalworking Fluids Market Size And Metalworking Fluids Market Growth Rate
4. Key Metalworking Fluids Market Trends
5. Major Metalworking Fluids Market Drivers
……
25. Key Mergers And Acquisitions In The Metalworking Fluids Market
26. Top Metalworking Fluids Companies
27. Metalworking Fluids Market Opportunities And Strategies
28. Metalworking Fluids Market, Conclusions And Recommendations
29. Appendix

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